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Tuesday, November 15, 2011

Government Support for Electric Drive Must Continue

Government Support for Electric Drive Must Continue

Vehicle electrification is simply a hedge against a petroleum crisis that we know to a certainty is coming. Within the transportation sector, electrification is the most complete, technologically feasible and cost effective hedge that we know of. More efficient ICE’s may offer improved fuel efficiency, but they offer no such hedge. The Chinese government, which is estimated to have spent about three times what the U.S. government has spent on vehicle electrification technology, has made the same calculation. The Chinese interest in vehicle electrification has less to do with its desire to compete with the West than with its concern for economic survival in a post-peak oil world.

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